Italian Stocks: Fondiaria, Intesa, Fiat, Mediaset, UniCredit

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Italy’s benchmark FTSE MIB Index increased the most in three months, adding 460.35, or 2.4 percent, to 19,566.06 at the 5:30 p.m. close in Milan, after posting the biggest monthly decline in November since February 2009.

The following stocks were among the most active in the Italian market today.

Banca Monte dei Paschi di Siena SpA (BMPS IM) rose 3.3 percent to 85.2 euro cents. A gauge for European banks ended a three-day decline as European bond risk fell from record levels. Banco Popolare SC (BP IM) gained 3.2 percent to 3.29 euros. UniCredit SpA (UCG IM), the country’s biggest bank, jumped 6.5 percent to 1.59 euros, the steepest increase since May. Unione di Banche Italiane SCPA (UBI IM) advanced 4.1 percent to 6.65 euros.

Fiat SpA (F IM) rose for the first day in four, gaining 4.6 percent to 13.34 euros before the release of car sales figures in Italy as automobile shares paced gains in Europe. Shares of Exor SpA (EXO IM), Fiat’s main shareholder, and Pirelli & C. SpA (PC IM), Europe’s third-largest tiremaker, advanced 4.4 percent to 21.21 euros and 3.8 percent to 6.08 euros, respectively.

Fondiaria-Sai SpA (FSA IM) advanced 6.1 percent to 5.46 euros, snapping seven days of losses. Italy’s second-biggest insurer, agreed to sell a stake in a property in Milan to UniCredit Real Estate SpA for 63.5 million euros ($83.2 million). Fondiaria will book a capital gain of 13 million euros from the sale, the insurer said in a stock-exchange statement.

Separately, CA Cheuvreux reiterated an “outperform” rating on the stock, nothing that “market valuation does not price in any chance of a tender offer nor the goodwill.”

Intesa Sanpaolo SpA (ISP IM), Italy’s second-biggest bank, increased 2.7 percent to 2.06 euros, ending a four-day drop. Equita Sim SpA lifted the weighting of the stock in its main portfolio by 50 basis points, citing the shares’ decline.

Mediaset SpA (MS IM) gained 3.9 percent to 4.43 euros, its first increase this week. BofA Merrill Lynch Global Research upgraded the broadcaster owned by Italian Prime Minister Silvio Berlusconi to “neutral” from “underperform,” citing the stock’s recent underperformance compared with the industry.

Milano Assicurazioni SpA (MI IM) rose the most in six months, gaining 6.4 percent to 1.07 euros. The unit of Italy’s Fondiaria-Sai agreed to sell a property in Milan to Sorgente Group for 105 million euros. Milano will book a capital gain of 61 million euros from the sale, the insurer said.

Saipem SpA (SPM IM), Europe’s largest oil-services provider, gained 2.7 percent to 32.92 euros as oil rose, trimming the commodity’s biggest decline in almost two weeks. Tenaris SpA (TEN IM), the world’s biggest maker of seamless steel tubes, climbed 3.3 percent to 16.75 euros.

Telecom Italia SpA (TIT IM) advanced 3.4 percent to 98.15 euro cents, rebounding from its lowest price in four months. Deutsche Bank AG reiterated a “buy” rating on Italy’s biggest phone company, saying that “Moody’s is confirming Telecom Italia’s rating,” as “free cash flow and its debt/earnings before interest, taxes, depreciation and amortization ratio are adequate to maintain the rating, although the mobile business should be reorganized.”

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